Formula 1 is experiencing explosive growth with revenue of $744 million collected in the second quarter of 2022

Formula 1 is in great shape financially, with the sport posting explosive growth in terms of revenue midway into the 2022 season.

There was a time when some people thought F1 was in a slump. However, after Liberty media took over in 2017, the sport experienced exponential growth. The number of viewers has increased dramatically over the past few years.

The main reason for this was the super-documentary series Drive to Survive on Netflix. It has given fans and new viewers an insight into the way F1 operates, and how drivers and team bosses spend time off the track.

This was attractive to a new audience, and drew attention to F1 in many new markets. One of F1’s biggest boosts has been the takeover of the US market. Americans have been involved in motorsports for a long time, but most of their focus has been on series like NASCAR and IndyCar.

F1’s growth in the United States has allowed organizers to introduce a new race in the country. In addition to visiting Austin, Texas later this year, fans have already got a taste of F1 in America after the Miami GP opens in April.

Read also: Charles Leclerc docked his elegant $2 million yacht in Porto Cervo during the Formula One summer vacation.

Formula 1 is expanding rapidly with new tracks added in 2023

F1 revenue increased significantly in the second quarter of this year. It took a hit after the Covid 19 pandemic, but with life returning to a normal economy, revenue has since recovered and improved.

according to sports business, F1 generated $744 million in revenue in the second quarter of this year. That’s a huge number, especially considering the fact that the end of the season has yet to come.

Red Bull’s Max Verstappen is the favorite to win the Word Championship and if he continues at his level he will do so with some races to spare. However, the race in which he seals his second consecutive title will be in the last quarter, which is when the revenue cap comes in.

It also allowed them to get more sponsorship money, and allowed F1 to increase their operating income to $65 million.

Those numbers seem huge today, but F1 is growing at a rapid pace. With the introduction of races such as the Las Vegas GP and the return to South Africa, the sport will record higher revenues in the coming years.

Also read: When three-time world champion Niki Lauda haggles for 25 race-winning prizes for a lifetime free car wash

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